//
archives

Trusts

This category contains 213 posts

Sensible outcome – inexplicable decisions

O’Dea v Rutten serves as reminder of the importance of respecting the legal framework of estates and trusts. For reasons that make no legal sense notwithstanding wills that provided for the residue of two estates to be distributed to trusts, the executors took the position that the trusts should be wound up and the trust … Continue reading

Beddoes and beyond

By way of background in Vincent Family Corporate Trust Limited (as trustee of the ET and P Vincent Trusts) as noted by Van Bohemen J (above and below): In Vincent Family Corporate Trustee the parties were urged to find resolution. When this was not possible the court was required to determine matters. Helpfully, Van Bohemen … Continue reading

Damp Squib

Being a trustee is increasingly more skittles than beer. “Beddoe orders” are an avenue for trustees to pursue or defend proceedings without facing personal liability. McCallum v McCallum concerns an appeal against partial Beddoe orders. At the opening of his novel Anna Karenina, the Russian novelist Tolstoy writes “All Happy families resemble one another, but … Continue reading

Relic from the past lives on

The application for leave in Little v Little (see A Little guidance on s 182) has been denied by the Supreme Court. the prime thrust of the appeal was that the trust in question was not a nuptial settlement. Reference was made to Te Aka Matua o te Ture/Law Commission (the Law Commission) recommendation that … Continue reading

Anathema to a trust

Transferring assets that might otherwise comprise relationship property to a trust, might appear an attractive alternative to “I love you” but not enough to share my stuff with you. However, even if the relationship is not yet a qualifying relationship for the purposes of the Property (Relationships) Act 1976 (the Act); dispositions to trust can … Continue reading

No fraud here

Legler v Formannoij relates to a spirited challenge to the appointment of a corporate trustee to act as the sole trustee of a trust. The arguments put to the court included the contention that this was a fraud on a power as the director and one of the two shareholders was formerly a trustee and … Continue reading

It’s mine said the trustee, all mine

The background to the appeal in Lambie v Addleman is encapsulated in [8] and [9] of the decision where the Supreme Court states as follows: The factual background is set out in Whose advice is it?; Rights to information prevail; and Disclosure request declined – 24 years a leap too far for a beneficiary who … Continue reading

Turning of the tide?

McGuire v Earl is a successful application for the following trust information: statements of accounts copies of all Minutes and Resolutions any documents pertaining to any distributions all documents pertaining to any gifting or debt incurred, and bank statements for all bank accounts. The trust in question was settled by Mr McGuire’s father and Mr … Continue reading

No notice of trust

Section 153 (set out below) of the Land Transfer Act 2017 provides that no notice can be given on the land title register that land is held on trust. 153       Trusts not to be entered on register (1)        Notice of a trust, whether express, implied, resulting, or constructive, must not be registered or noted on … Continue reading

Null and void

The background to Hamilton v Kirwan can be set out as follows: A 58.9450 hectare block of rural land (the Property) was purchased in 1984 In December 1997 the Property owner’s daughter began living on the Property.  In 2000 she built a dwelling on the Property part of which was funded by a $20,000 advance … Continue reading

Categories